Wedding gift You do not have to pay any tax on any gift you receive from friends or relatives at your wedding. But, you should have received this gift around the time of your wedding. It is not that your wedding is today and you receive a gift after six months, then there will be no tax on it. Even if the value of the gift exceeds Rs 50,000, tax will be levied.
Profit received from partnership firm If you are a partner in a company and you receive any amount as a share of profit, then you will not have to pay tax on that also. Your partnership firm has already paid tax on this amount. However, this exemption is only on the profits of the firm. If you get a salary from the firm, then you will have to pay that tax.
Life insurance claim or maturity amount If you have purchased a life insurance policy, the claim or maturity amount is completely tax-free. However, the condition is that the annual premium of the policy should not exceed 10 per cent of its sum assured. If it exceeds this amount, the excess amount will be taxed. In some cases, this discount can be up to 15 per cent.
Returns received from share or equity MF If you have invested in shares or equity mutual funds, then returns of Rs 1 lakh on selling them artax-freeee. This return is calculated under Long Term Capital Gain (LTCG). However, returns above this amount attract LTCG tax.
LIC Jeevan Anand: In this policy, you can get Rs 25 lakh by depositing about Rs 1358 every month. If you look at it daily, you will have to save Rs 45 every day.
LIC Jeevan Anand: Everyone saves some amount from their income and wants to invest it in such a place where even their small savings can accumulate a huge fund in the future. In this case, the saving schemes of the country’s largest insurance company Life Insurance Corporation of India (LIC) are quite popular in terms of both security and returns. Policies are available in LIC for people of all ages. One such scheme is LIC’s Jeevan Anand Policy, in which you can accumulate a huge fund of Rs 25 lakh by saving just Rs 45 per day. Let’s know about it in detail…
You will be able to raise a huge fund at a low premium.
If you want to raise a huge fund for yourself at a low premium, then Jeevan Anand Policy can prove to be an excellent option. In a way, it is just like a term policy. You can pay the premium for the duration for which your policy is. In this scheme, the policyholder gets not one but several maturity benefits. In this scheme of LIC, the sum assured is at least Rs 1 lakh, while no maximum limit has been fixed.
How to make 25 lakhs from 45 rupees?
In LIC Jeevan Anand Policy, you can get Rs 25 lakh by depositing about Rs 1358 every month. If you look at it daily, then you will have to save 45 rupees every day. You will have to do these savings for the long term. Under this policy, if you invest for 35 years by saving 45 rupees a day, then after the maturity of this scheme, you will get an amount of Rs 25 lakh. If you look at the amount saved by you on an annual basis, then it will be around Rs 16,300.
You get this much amount with a bonus
.If you invest Rs 16,300 every year in this LIC policy for 35 years, then you will invest a total deposit amount of Rs 5,70,500. Now according to the policy term, the basic sum assured will be Rs 5 lakh, with which after the maturity period, you will be given a revisionary bonus of Rs 8.60 lakh and a final bonus of Rs 11.50 lakh by adding this amount. Bonus is given twice in LIC’s Jeevan Anand policy, but for this, your policy must be for 15 years.
No tax exemptions, still great benefits
Let us tell you here that the policyholder does not get the benefit of tax exemption in this LIC Policy. However, apart from this, many types of benefits are available. If you look at the details, it is known that 4 types of riders are available on Jeevan Anand Policy. These include Accidental Death and Disability Rider, Accident Benefit Rider, New Term Insurance Rider and New Critical Benefit Rider. Death benefit has also been added to this policy. That is, if the policyholder dies, the nominee will get a 125 per cent death benefit from the policy. At the same time, if the policyholder dies before the policy matures, the nominee gets money equal to the time assured.
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